Hologic exceeds expectations during second quarter of 2017

Hologic has announced its financial results for the second quarter of its 2017 fiscal year, during which it exceeded its internal forecasts.

The company delivered a revenue total of $715.4 million (555.62 million pounds) during the quarter, up by 3.2 percent year on year, while GAAP diluted earnings per share rose by 666.7 percent to $1.84. Both figures were higher than expected.

Revenue growth in the second quarter was led by the company's molecular diagnostics and the gynaecology surgical division, with a strong performance for the US business helping to offset the impact of negative currency trends on its international earnings.

The firm also achieved a significant strategic milestone with the completion of its acquisition of Cynosure, a leading developer of medical aesthetics systems and technologies.

Hologic continues to expect solid mid-single-digit growth from its ongoing base businesses over the remainder of the year.

Steve MacMillan, Hologic's chairman, president and chief executive officer, said: "It was a transformational quarter from a strategic perspective, as we strengthened our portfolio of businesses for the long term."

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